Monthly Archives: May 2014

Is mold covered under certain situations and is there a limit for mold damage?

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The growth of mold in a house can be a sign of serious problems, but many homeowners insurance policies will not cover the removal of the material unless it meets very specific guidelines. The problem with the fungus is that it can grow in unexpected locations, but the removal and prevention of fungal growth is a part of regular maintenance. Even though a basic homeowners insurance policy may have certain limitations, it is possible that the insurer will have options available to help with the removal of mold.

Dangerous Species

Fungal growth in wet and damp areas of the house is a normal part of homeownership. It is necessary to remove the growth of the fungus before it can cause major damage to the property.

Even though many species of the fungus may not be covered, it is possible that some insurers will have solutions to remove dangerous species. Evaluate your policy if you discover a toxic species of the fungus to determine if your policy might have a solution available.

Normal Care

In normal situations, it is likely that your insurer will consider the removal of the fungus a part of your maintenance responsibilities. Catching the mold early plays a key role in ensuring that the damage from the fungus is limited, but insurers may not pay for the damages from the fungal growth in most situations. The reason is that the fungus grows over time and it is possible to limit the damage by removing it early.

The growth of fungus is never pleasant, but it is your responsibility to remove it before it causes major damage to the property. Contact us to speak to an agent for more information about the types of coverage that are available for your property.

What is business interruption insurance? What does it cover?

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Obtaining insurance is an important part of caring for your business in Bethlehem, PA. Although the details of your basic plan may vary, it is often a good decision to purchase business interruption insurance for additional protection against the loss of income when a disaster occurs.

Basics of the Plan

As the name suggests, business interruption insurance is designed to address the concerns of a company when it is not possible to run the business for a specific period of time. It covers the loss of income after specific situations arise so that the business does not face financial strife when it cannot serve customers for any reason.

Depending on the plan that you purchase, the situations that are covered and the particular details of making a claim may vary. Some insurers may have a limitation on the amount that you can claim based on the number of days that your business is closed, so read your policy to determine the amount that you can claim on your account.

Combining the Coverage with Other Plans

Even though the policy can help reduce the financial risks of a company, the plan has the most impact when it is combined with property protection and other forms of insurance based on the type of company that you are running and the assets that you own.

The policy is designed to pay for the loss of income that you may face after a natural disaster or a similar problem occurs. It will not pay for any damages to company property or similar expenses.

Protecting your business requires the right types of insurance to avoid unnecessary risks and hassles. In many cases, business interruption insurance is a useful way to avoid financial strife while your business rebuilds after a disaster. Contact us to talk to an agent for more information about your coverage options.

Why do miles driven to school per week influence insurance cost?

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Other than thinking about the high price of gas, most people do not think about how many miles they drive in a day or a week. If you need to go to the grocery store in Bethlehem, PA, you get in your car and go. If you have to commute 100 miles each week to go to school, that is what you do. Even though you may not keep close track of how far you drive, you probably realize that the cost of owning and operating a vehicle goes up as you drive greater distances.

Obviously, your cost of fuel will be more if you drive 20,000 miles in a year instead of only 10,000 miles per year. Your tires will wear out faster and you will have to replace them with new ones. Maintenance and repair costs will also rise proportionately as you increase the number of miles you drive.

What you might not realize is that auto insurance companies pay close attention to how far you drive. They normally do not care if you drive 1,000 miles in a week to take a vacation or drive 20 miles each day to go to school. Generally speaking, your insurance cost is affected by the total amount of miles you drive in a year.

Insurance companies are not worried about how much you spend on gas or how many times you will have to change your oil. They are only concerned about mileage because it can increase your risk of being in an accident or suffering some type of loss. If your car is parked in the driveway and not being driven, there is a much lower chance of you filing a claim for a loss.

While miles driven is not as important as your driving record in determining your premium for auto insurance, it is a factor. If your circumstances change and you will only be driving half as many miles as you did the previous year, notify your independent agent. You may be able to get a reduction in your insurance cost.

Will my premium be lower if I have improved security such as good-quality locks or smoke detectors fitted?

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After buying your current home insurance policy, chances are you’ve also been looking for opportunities to lower your monthly premiums even further. Improving your home’s security is one of the best ways to lower your premium and there are several ways you can reduce the overall cost of your homeowners policy, all while making your home safer for you and your loved ones.

For instance, the addition of something as simple and affordable as a set of dead-bolt locks may offer a small decrease in your homeowner’s insurance premiums. Smoke and carbon monoxide detectors installed throughout your home or a state-of-the-art burglar alarm or sprinkler system that also alerts police and fire/rescue officials may offer significant discounts, as well.

At the same time, you’re also enhancing your home’s ability to protect you and other occupants from a wide variety of threats. These range from intruders and carbon monoxide poisoning while you’re at home to burglary attempts while you’re away on vacation.

While exploring your options, it’s a good idea to read the fine print to see if your addition qualifies your policy for a discount. Some discounts can’t be used with others or only apply to certain situations. Also, keep in mind that these discounts may be combined with others to maximize your home insurance policy’s bang for the buck.

Don’t hesitate to shop around for a policy that best suits your needs. As your independent agency, we’re always ready and prepared to help you find and compare quotes online from multiple insurance carriers. Get in touch with us and speak to one of our agents to discover more ways to reduce your home insurance premiums.